If scalpers were to charge only face value for tickets to a sold-out event, there would be
A. a lower price in the market for scalped tickets than the equilibrium price.
B. a scalped ticket available for every seat in the stadium.
C. a higher price in the market for scalped tickets than the equilibrium price.
D. a price in the market for scalped tickets equal to the equilibrium price.
Answer: A
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Consider an economy where the growth rate of real GDP is 6% and the growth rate of money supply is 8%. If the quantity theory of money holds, the inflation rate in the economy will be:
A) 8%. B) 6%. C) 2%. D) 14%.
The table above gives a nation's investment demand and saving supply schedules. It also has the government's net taxes and expenditures. The government has a budget
A) surplus of $60 billion. B) deficit of $20 billion. C) surplus of $20 billion. D) deficit of $60 billion. E) surplus of $40 billion.
In April, market analysts predict that the price of titanium will fall in May. What happens in the titanium market in April, holding everything else constant?
A) The demand curve shifts to the right. B) The supply curve shifts to the left. C) The quantity demanded and the quantity supplied increase. D) The supply curve shifts to the right.
In financial markets, buyers are people who:
A. have cash promised to them at some future date. B. have cash on hand and are willing to let others use it, for a price. C. want to spend money on something of value right now, but don't have cash on hand. D. want to spend money on something of big value in the future, but don't know how to save for it.